This is correct, but you do need to understand that there are technical limitations to twisted pair. Even if AT&T or $TELCO runs fiber to the node everywhere, twisted pair has gigantic line loss issues over long distances. We really need fiber to the prem or frankly we're just messing around.

There's no financial model that will support building fiber networks except the obvious societal benefit. Having fast fiber everywhere is incredibly valuable from both a social and economic perspective. To put it bluntly, GDP goes up when internet gets faster.

Now, the costs will always be wrong for a fiber network. I question why LA would do this instead of building a WISP (wireless ISP) that would deliver speed over radiowave. Forget tearing up all the streets, just put radio towers on the buildings! The costs are lower, the bandwidth is fast and the rollout is asynchronous (you roll the radio towers as you sign people up).

Source: I come from the Internet and stuff. My credentials: Comcast fiber rollout, AT&T sales, Avaya consulting and 2600hz (open-source telco infrastructure).